Global high-yield bond manager Muzinich & Co, which manages $5bn (€3.4bn) in assets, has made two new hires to its London team as it bids to is boosts its European marketing presence.

Joshua Hughes has signed up as marketing executive from RZB, the Austrian bank, where he was a relationship manager. Associate Farah Asif was previously a marketer at Interactive Brokers UK.

George Muzinich, owner of the firm, founded in New York, said: "Our core business is in Europe and this is where we see much of our growth coming from."

The uncertain market backdrop means that a higher proportion of bonds than usual offer investors high yields. Muzinich argues that it is well equipped to sort the wheat from the chaff. It recently won a £65m (€81m) mandate from the UK-based P&O pension scheme.

In July, Muzinich introduced a share incentive plan for key employees. Its core high yield holdings are in a mix of BB and B rated securities. It takes a view on lower-rated securities on a tactical basis, where opportunities are justified by risk appraisal. It said: "High yield bonds have delivered consistently attractive returns with low volatility and low correlation to government bonds and investment grade corporate bonds."